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resources would greatly be apreciated

2006-06-26 02:19:24 · 2 answers · asked by Get Over It 2 in Business & Finance Renting & Real Estate

2 answers

The "best" approach would be to find someone who is already doing it and have them mentor you.

Failing that, there are lots of books on the subject. Either visit the library or your local bookstore and get reading.

2006-06-26 02:26:11 · answer #1 · answered by Thrasher 5 · 0 0

here is how I did it.

1) see an infomercial, buy the program, listen to it (I did carlton sheets)
2) set it on the shelf and let it collect dust while the seed of a dream had been planted
3) forget about it and go to school to get a good job
4)one day wake up and realize that I still want to do that
5) go to the book store and become an expert on the real estate book shelf, which means to read every back cover and pick at least 5 books on as wide of topics as interested in to buy or read in the store, then come back often to get another when I was still hungry for knowledge
6)get enough nerver to start looking at potential property and coming up with a plan to make money somehow (I chose rentals versus flipping but to each his own)
7)make offers that are in line with the plan and get one accepted (I only required a positive cash flow and was able to get one of my first 5 offers accepted, and we bought another one a few weeks later when the agent had a deal too good to pass up)
8)wonder why you didn't start earlier and buy a couple houses every year.

I own 7 houses as rentals now and would highly recommend that you skip step 2 and 3 looking back on the last 3 years. Do step 1 for no other reason than to start believing in your own mind that you can do this. Also might want to join a real estate investing club for this reason.

good luck

since you wanted resources... here are 5 books I would suggest you give a look at, they are not 'mandatory' but they are 5 I read and would recommend if you are interested in each topic:
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?z=y&isbn=0071412913&itm=5
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?z=y&isbn=0446691844&itm=8
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?z=y&isbn=0793177561&itm=10
http://search.barnesandnoble.com/booksearch/isbninquiry.asp?z=y&pwb=1&ean=9780471453970
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?z=y&isbn=0071414339&itm=1

2006-06-29 10:06:17 · answer #2 · answered by brian-the-brain 5 · 0 0

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